Monday, May 15, 2017 2:00 PM / FMDQ
Given the increasingly competitive market environment, corporates and commercial entities have continued to seek innovative approaches towards executing their financing strategies. Commercial papers (CPs), continue to present and serve as an alternative source of complementing working capital requirements, among others, for these businesses.
The FMDQ OTC Securities Exchange (FMDQ or the OTC Exchange) Board Listings, Markets and Technology Committee, approved the registration of the Stanbic IBTC Holdings PLC ₦20.00bn CP Programme (the Stanbic IBTC Holdings CP Programme) on its platform. Issues from this Programme are to be quoted on the OTC Exchange.
With a streamlined and efficient registration process, FMDQ, avails a commendable quotations service which offers among others, credibility for quoted CPs and global visibility via the Quotations Page on the FMDQ website and the FMDQ-Bloomberg Trading & Surveillance System (E-Bond). Also, FMDQ publishes the Quoted CPs Status Report which provides up to date information and the status of all CPs quoted on FMDQ’s platform. By playing host to several CP quotations, FMDQ, provides the much-needed visibility, confidence and protection to issuers, investors, market regulators, among others, whose direct and indirect activities play an important role in developing the nation’s economy.
Having joined other top rated institutions that have their CP programmes registered on the OTC Exchange, the timely and efficient registration of the Stanbic IBTC Holdings CP Programme is a validation of FMDQ’s mandate to be operationally excellent, towards the transformation of the Nigerian debt capital market. To date, FMDQ has welcomed circa ₦250.75bn worth of CP issuances for quotation on its platform.
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